The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
The Great Debate
As someone deeply familiar with Sen. Lisa Murkowski’s leadership on the “Critical Minerals Policy Act,” John Kemp’s recent Reuters column criticizing the bill struck me as a cynically misguided reaction to her important work. Sen. Murkowski introduced the legislation in order to, as she put it, “keep the United States competitive and begin the process of modernizing our federal mineral policies.” This is a laudable goal and an important process, particularly as our foreign reliance increases for materials needed to build semiconductors, skyscrapers, and everything in between.
It’s been nearly a century since the United States began its experiment in prohibiting recreational drugs besides alcohol, caffeine and tobacco — and virtually no one sees the trillion dollar policy as a success. A recent study [PDF] shows that drug prices have dropped more than 80 percent in the last two decades alone; purity and availability has risen; and overall addiction and death rates haven’t been cut, despite an exponential increase in incarceration since the 1980s.